Son of If You Can Draw a Straight Line . . .

We'll see what happens if a Republican wins the White House.

 

Canada will always welcome you, when you get tired of the carousel. Bring some warm clothes.

 

I don't know that I'd call it a carousel. Looking back to Nov 22, 1963, it's difficult to believe just how far we've fallen.

 

Well, from the hourly perspective we are again stuck in a TR between 28 and 35, the underlying trend is up though, so an upside BO could be the way to go. Or not!. You know how it is. The DL from Thursday 4:00 AM is at risk, and a break below LSL would confirm the beliefs of the bears.

Lets see what happens.

 

It should also be noted that we have been pushing hard against the upper limit of the long-term trend channel, flirting with overbought territory. Fish or cut bait.

 

Thanks, so far my longer term view extends to the hourly, once I get better in that I will include the bigger picture. But meanwhile your updates are helping a lot.

 

9:23 7 minutes to the open and the market is in a TR between 32 and 34 if that can even be called a TR. there was rejection at the top of the hourly R at 35.

Lets see who takes control at the open.

9:32 Sellers failed to take 32, so I think an entry at 34.75 would be a valid test entry here.
:34 Buyers are stalling at 37
:36 Not sure about shorting 34.75
:38 Yep I am still very green for this kind of evironment...

 

0939: Is it the making of a wide hinge?

 

Looks like it

9:41 Looking from the distance, until this clears out.

 

Notice how wide and weird the hinge looks right now. After an hour or so this will all look so obvious in hindsight. The hinge will be smaller and petite and so easy to spot.

0945: Is this a BO to the upside?

GLD: Gold made a lower low but hasn't been able to continue down. I will have to write something EOD.